Moody's assigns B1 rating to Telecable

RNS Number : 8664L

Zegona Communications PLC

14 January 2016

 

14 January 2016

MOODY'S GIVES TELECABLE THE HIGHEST RATING OF ANY EUROPEAN TMT COMPANY OF ITS SIZE

Zegona, the LSE Main Market company established to acquire and operate businesses in the European Telecommunications, Media and Technology (''TMT'') sector, notes Moody's Investors Service's ("Moody's") announcement today that Telecable, the leading Spanish regional quad play operator acquired by Zegona in August 2015, has been assigned a rating of B1 by Moody's: https://www.moodys.com/research/Moodys-assigns-first-time-CFR-of-B1-to-Parselaya-parent--PR_342200 

Eamonn O'Hare, Chairman and Chief Executive of Zegona commented:

"Moody's rating is a ringing endorsement of Telecable's current performance and its future prospects. The resulting B1 rating is in line or better than many far larger European cable operators, and in fact represents the highest rating of any European TMT company of its size."

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Notes to Editors:

About Zegona and Telecable

Zegona was established with the objective of acquiring businesses in the European Telecommunications, Media and Technology sector with a 'Buy-Fix-Sell' strategy to deliver attractive shareholder returns. The first of such opportunities was the acquisition of Telecable, the cable telecommunications operator in the Asturias region of Spain, which completed on 14 August 2015. Zegona believes Telecable represents a compelling investment because of its market leading position and strong cash generation, coupled with attractive dynamics in the Spanish telecommunications market and Spanish economy.

 

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